PM to follow up with energy retailers

Prime Minister Malcolm Turnbull will meet with Australia’s electricity retailers again in Sydney on Wednesday.

The meeting will be a follow-up on the August 9 gathering, where energy companies pledged to make sure all customers are on the best deal possible.

“There is at least one million, possibly more, who are paying more for their electricity than they need because they’re either not on the right plan or they were on a plan and it’s expired and then they flipped over to the standard offer and nobody has told them,” the PM told a radio program today.

“But I want to make sure that as far as we can manage it, no Australian is paying more than they need to for electricity.

“That is why we want the retailers – they’ve given a commitment to do this and we will be reinforcing that this week – to be getting in touch with people and making sure they get the right deal.

“What we are securing is their commitment to make sure that their customers know whether they’re on the right plan or not.”

Since the first meeting, Government-owned company CS Energy and Alinta Energy teamed up to provide relief to South East Queensland SEQ consumers.

They are offering a 25 per cent two-year electricity discount, saving customers up to $350 a year.

Australian Energy Council chief executive Matthew Warren said the industry would continue to work constructively with the federal government on strategies to assist consumers to access the most appropriate energy deals for them in the market.

“Retailers recognise that many customers are doing it tough, and will be stepping up their efforts to draw attention to the cheap energy market deals which are on offer,” he said.

“The current spike in electricity bills is the result of a shortage of supply in the generation or wholesale market.

“If you want to fix power bills, you have to fix that problem. New investment to replace Australia’s ageing fleet of power stations is stalled as the result of a decade of national climate and energy policy uncertainty.”